What's new on Kiva: Water loans!
Long-time Kiva Field Partner Fundación Paraguaya recently posted its first water loan as part of a pilot project called Ikatu Agua (“Ikatu” means “we can” in Guaraní, the indigenous language of Paraguay). With the support of Kiva, FP is giving loans to isolated communities with limited access to potable water in order to dig wells, set pipeline networks and install water meters. The loan is given to a handful of community leaders, who form a Sanitation Committee in representation of their entire community. Members of the Sanitation Committee are responsible for contracting builders, overseeing construction and collecting small, regular contributions from community members (anywhere from 500 - 2,000 people, all of whom benefit from the project). These numerous small contributions will be pooled together and sent to Kiva lenders as a monthly repayment.
Many thanks to our friends at Fundación Paraguaya for all the hard work they’ve invested in the design and implementation of Ikatu Agua. We’re pleased to support innovative, much-needed loan products like this one, and hope to see more of them on Kiva in the future!